The Relative Strength Index technical indicator (RSI) is a price-following oscillator which ranges between 0 and 100. When Wilder introduced the Relative Strength Index, he recommended to use a 14-day RSI. From then on, the 9-day and 25-day Relative Strength Index indicators have also gained popularity.
A well-known method of analyzing the RSI is to search for a divergence in that the security is making a new high but the RSI is failing to exceed its previous high. This divergence is a sign of an impending reversal. If the Relative Strength Index then turns down and falls below its most recent trough, we are talking about a completed "failure swing". The failure swing is treated as a confirmation of the impending reversal.
There exist different ways to use Relative Strength Index for the chart analysis:
You can download the RSI indicator here: https://www.mql5.com/en/code/47